Retirement Income Literacy Study | The American College of Financial Services
Source: http://www.theamericancollege.edu/knowledge-hub/retirement-income-literacy-study
Archived: 2026-04-23 17:37
Retirement Income Literacy Study | The American College of Financial Services
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Retirement Income Literacy Study
Study finds improving financial literacy supports retirement wellness and confidence.
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Retirement Income Literacy Study
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Award-Winning Research
Powerful Insights Recognized
Our 2023 Retirement Income Literacy Study has received the 2024 ThinkAdvisor LUMINARIES award for Thought Leadership and Education, as well as the 2024 WealthManagement.com Wealthie award for Industry Research Provider!
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Client Engagement Tool
Retirement Income Literacy Quiz
The 2023 Retirement Income Literacy Study data proved: as a financial professional, you play an important role in educating your clients. That’s why we’re giving you access to the same quiz used in the study—so you can use it as an assessment tool and conversation-starter to deepen your client relationships.
Share the quiz with your clients today and help them prepare for a brighter tomorrow.
Access the Quiz
cb19 icon list
2023 Retirement Income Literacy Study
Overall View
The latest wave of the research connects financial literacy and advisor education to retirement confidence.
Read Results
Diversity View
Significant disparities exist in retirement knowledge, confidence, and financial well-being among diverse communities.
Read Results
Women’s View
Retirement knowledge, confidence, and financial well-being in women aged 50-75 lag behind men, but there's room for progress.
Read Results
cb31 stats
Facts & Figures
31%
The overall average Retirement Income Literacy Score is only 31%.
1
+11
Respondents working with a financial advisor boosted their survey scores by over 11%.
1
#1
#1 Inflation is the top-ranked knowledge area.
1
About the Study
Now in its 10th year, the Retirement Income Literacy Study conducted by The American College of Financial Services offers comprehensive insight and analysis into older Americans’ financial literacy in 12 knowledge areas related to retirement income—including Social Security, longevity, investments, and more. The 2023 study is the fourth wave in the body of research, which is fielded every three years since 2014. The primary research question is: Do Americans in the critical period from ages 50 to 75 know enough about retirement income to feel confident they can achieve the best possible outcomes?
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Eric Ludwig, PhD, CFP®, RICP®, and Zach Morley, RICP®, former Wisconsin Badger and college basketball player, discuss retirement income planning and more in a special edition of Shares.
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March 12, 2026
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Gain exclusive insights on the power of Social Security as a financial and psychological lifeline for your clients.
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Addressing Social Security Myths
Michael Finke, PhD, CFP®, and Martha Shedden, CRPC®, set the record straight on common misconceptions about Social Security and discuss how advisors should address it with clients.
February 12, 2026
01
/
03
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Center for Retirement Income
Key Retirement Income Planning Resources
The American College Center for Retirement Income is committed to raising knowledge about the issues and concepts facing Americans’ retirement. In addition to the Retirement Income Literacy Study, the Center publishes insights and research, leads in-person and live events, and creates educational curriculum to support financial professionals and benefit society.
Visit the Center
ab7 directory
Research Team
Eric Ludwig
PhD, CFP®, RICP®
Associate Professor of Retirement Income, RICP® Program Director, and Director, Center for Retirement Income
Read Bio
Kaylee Ranck
PhD
Research Director, The American College Center for Women in Financial Services
Read Bio
Chet R. Bennetts
PhD, CFP®, ChFC®, CLF®,CLU®, RICP®
Department Chair and Associate Provost, Academics
Larry R. Pike Chair for Insurance and Investments
Roger Hull/James S. Bingay Chair of Leadership
Read Bio
Steve Parrish
JD, RICP®, CLU®, ChFC®, AEP®
Adjunct Professor
Read Bio
Michael Finke
PhD, CFP®
Professor of Wealth Management, WMCP® Program Director, Director for the Granum Center for Financial Security, Frank M. Engle Distinguished Chair in Economic Security
Read Bio
Domarina Oshana
PhD
Senior Director, Research & Operations, American College Cary M. Maguire Center for Ethics in Financial Services
Read Bio
01
/
00
Eric Ludwig
PhD, CFP®, RICP®
Associate Professor of Retirement Income, RICP® Program Director, and Director, Center for Retirement Income
Read Bio
Kaylee Ranck
PhD
Research Director, The American College Center for Women in Financial Services
Read Bio
Chet R. Bennetts
PhD, CFP®, ChFC®, CLF®,CLU®, RICP®
Department Chair and Associate Provost, Academics
Larry R. Pike Chair for Insurance and Investments
Roger Hull/James S. Bingay Chair of Leadership
Read Bio
Steve Parrish
JD, RICP®, CLU®, ChFC®, AEP®
Adjunct Professor
Read Bio
Michael Finke
PhD, CFP®
Professor of Wealth Management, WMCP® Program Director, Director for the Granum Center for Financial Security, Frank M. Engle Distinguished Chair in Economic Security
Read Bio
Domarina Oshana
PhD
Senior Director, Research & Operations, American College Cary M. Maguire Center for Ethics in Financial Services
Read Bio
cb10 newsletter signup
Subscribe to The College’s Newsletter, Connections
Explore More
Learn About the RICP®
cb20 footer cta
Retirement Income Planning Experts: Earn Your RICP
®
As a Retirement Income Certified Professional® (RICP®), you’ll experience the most extensive and intensive retirement income education available.
Learn More
Take a RICP® Tour
footnotes
1
2023 Retirement Income Literacy Study. The American College of Financial Services.
Skip to main content
advanced_flex
[CB3] DEPRECATED - Tertiary Banner
Retirement Income Literacy Study
Study finds improving financial literacy supports retirement wellness and confidence.
Home
/
Knowledge Hub
/
Retirement Income Literacy Study
cb12 repeater
Award-Winning Research
Powerful Insights Recognized
Our 2023 Retirement Income Literacy Study has received the 2024 ThinkAdvisor LUMINARIES award for Thought Leadership and Education, as well as the 2024 WealthManagement.com Wealthie award for Industry Research Provider!
cb12 repeater
Client Engagement Tool
Retirement Income Literacy Quiz
The 2023 Retirement Income Literacy Study data proved: as a financial professional, you play an important role in educating your clients. That’s why we’re giving you access to the same quiz used in the study—so you can use it as an assessment tool and conversation-starter to deepen your client relationships.
Share the quiz with your clients today and help them prepare for a brighter tomorrow.
Access the Quiz
cb19 icon list
2023 Retirement Income Literacy Study
Overall View
The latest wave of the research connects financial literacy and advisor education to retirement confidence.
Read Results
Diversity View
Significant disparities exist in retirement knowledge, confidence, and financial well-being among diverse communities.
Read Results
Women’s View
Retirement knowledge, confidence, and financial well-being in women aged 50-75 lag behind men, but there's room for progress.
Read Results
cb31 stats
Facts & Figures
31%
The overall average Retirement Income Literacy Score is only 31%.
1
+11
Respondents working with a financial advisor boosted their survey scores by over 11%.
1
#1
#1 Inflation is the top-ranked knowledge area.
1
About the Study
Now in its 10th year, the Retirement Income Literacy Study conducted by The American College of Financial Services offers comprehensive insight and analysis into older Americans’ financial literacy in 12 knowledge areas related to retirement income—including Social Security, longevity, investments, and more. The 2023 study is the fourth wave in the body of research, which is fielded every three years since 2014. The primary research question is: Do Americans in the critical period from ages 50 to 75 know enough about retirement income to feel confident they can achieve the best possible outcomes?
cb9 features resources - V1
Related Insights
See All Resources
View By New
View By Trending
View By Popular
Podcasts
Advice Utopia or Robot Overlords: What to Expect From AI in the Future
Michael Finke, PhD, CFP®, and David Blanchett, PhD, MSFS, CFA, CLU®, ChFC®, CFP®, talk about AI and what it could mean for the future of financial services in this episode of Shares.
By
Michael Finke
April 16, 2026
Insights
Guiding Clients Through Longevity Risk
Longevity risk can derail retirement, but planning ahead ensures clients enjoy a secure, lasting income.
April 15, 2026
Podcasts
Retirement Income Bracketology
Eric Ludwig, PhD, CFP®, RICP®, and Zach Morley, RICP®, former Wisconsin Badger and college basketball player, discuss retirement income planning and more in a special edition of Shares.
By
Eric Ludwig
March 12, 2026
On-Demand Webcasts
Unlocking Social Security Autonomy at Every Life Stage
Gain exclusive insights on the power of Social Security as a financial and psychological lifeline for your clients.
February 13, 2026
Podcasts
Addressing Social Security Myths
Michael Finke, PhD, CFP®, and Martha Shedden, CRPC®, set the record straight on common misconceptions about Social Security and discuss how advisors should address it with clients.
February 12, 2026
01
/
03
cb12 repeater
Center for Retirement Income
Key Retirement Income Planning Resources
The American College Center for Retirement Income is committed to raising knowledge about the issues and concepts facing Americans’ retirement. In addition to the Retirement Income Literacy Study, the Center publishes insights and research, leads in-person and live events, and creates educational curriculum to support financial professionals and benefit society.
Visit the Center
ab7 directory
Research Team
Eric Ludwig
PhD, CFP®, RICP®
Associate Professor of Retirement Income, RICP® Program Director, and Director, Center for Retirement Income
Read Bio
Kaylee Ranck
PhD
Research Director, The American College Center for Women in Financial Services
Read Bio
Chet R. Bennetts
PhD, CFP®, ChFC®, CLF®,CLU®, RICP®
Department Chair and Associate Provost, Academics
Larry R. Pike Chair for Insurance and Investments
Roger Hull/James S. Bingay Chair of Leadership
Read Bio
Steve Parrish
JD, RICP®, CLU®, ChFC®, AEP®
Adjunct Professor
Read Bio
Michael Finke
PhD, CFP®
Professor of Wealth Management, WMCP® Program Director, Director for the Granum Center for Financial Security, Frank M. Engle Distinguished Chair in Economic Security
Read Bio
Domarina Oshana
PhD
Senior Director, Research & Operations, American College Cary M. Maguire Center for Ethics in Financial Services
Read Bio
01
/
00
Eric Ludwig
PhD, CFP®, RICP®
Associate Professor of Retirement Income, RICP® Program Director, and Director, Center for Retirement Income
Read Bio
Kaylee Ranck
PhD
Research Director, The American College Center for Women in Financial Services
Read Bio
Chet R. Bennetts
PhD, CFP®, ChFC®, CLF®,CLU®, RICP®
Department Chair and Associate Provost, Academics
Larry R. Pike Chair for Insurance and Investments
Roger Hull/James S. Bingay Chair of Leadership
Read Bio
Steve Parrish
JD, RICP®, CLU®, ChFC®, AEP®
Adjunct Professor
Read Bio
Michael Finke
PhD, CFP®
Professor of Wealth Management, WMCP® Program Director, Director for the Granum Center for Financial Security, Frank M. Engle Distinguished Chair in Economic Security
Read Bio
Domarina Oshana
PhD
Senior Director, Research & Operations, American College Cary M. Maguire Center for Ethics in Financial Services
Read Bio
cb10 newsletter signup
Subscribe to The College’s Newsletter, Connections
Explore More
Learn About the RICP®
cb20 footer cta
Retirement Income Planning Experts: Earn Your RICP
®
As a Retirement Income Certified Professional® (RICP®), you’ll experience the most extensive and intensive retirement income education available.
Learn More
Take a RICP® Tour
footnotes
1
2023 Retirement Income Literacy Study. The American College of Financial Services.